UNIVERSAL BUSINESS PAYMENT SOLUTIONS ACQUISITION CORPORATION
_________________,
2011
UBPS
Services, LLC
Radnor
Financial Center
000 Xxxxx
Xxxxxx-Xxxxxxx Xxxx, Xxxxx X-000
Radnor,
Pennsylvania 19087
ATTN:
Xxxxx Xxxx, Member
Gentlemen
and Ladies:
This
letter will confirm our agreement that, commencing on the effective date (the
“Effective Date”) of the registration statement for the initial public offering
(the “IPO”) of the securities of Universal Business Payment Solutions
Acquisition Corporation (the “Company”) and continuing until the consummation by
the Company of a “Business Combination” (as described in the Company’s
registration statement in connection with the IPO), or the Company’s
liquidation, UBPS Services, LLC shall make available to the Company certain
administrative, technology and secretarial services, as well as the use of
certain limited office space, including a conference room in Radnor,
Pennsylvania, as may be required by the Company from time to time, situated at
000 Xxxxx Xxxxxx-Xxxxxxx Xxxx, Xxxxx X-000, Xxxxxx, Xxxxxxxxxxxx 19087 (or any
successor location). In exchange therefor, the Company shall pay UBPS
Services, LLC the sum of $7,500 per month on the Effective Date and continuing
monthly thereafter.
This
letter agreement constitutes the entire agreement and understanding of the
parties hereto in respect of its subject matter and supersedes all prior
understandings, agreements or representations by or among the parties hereto,
written or oral, to the extent they relate in any way to the subject matter
hereof or the transactions contemplated hereby.
This
letter agreement may not be amended, modified or waived as to any particular
provisions, except by a written instrument executed by all parties
hereto.
No party
hereto may assign either this letter agreement or any of its rights, interests
or obligations hereunder without the prior written approval of the other
party. Any purported assignment in violation of this paragraph shall
be void and ineffectual and shall not operate to transfer or assign any interest
or title to the purported assignee.
This
letter agreement, the entire relationship of the parties hereto, and any
litigation between the parties (whether grounded in contract, tort, statute, law
or equity) shall be governed by, construed in accordance with, and interpreted
pursuant to the laws of the State of New York.
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Very
truly yours,
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By:
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Name:
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Xxxxx
X. Xxxx
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Title:
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Chief
Executive
Officer
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AGREED TO
AND ACCEPTED BY:
UBPS
SERVICES, LLC
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By:
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Name: Xxxxx
X. Xxxx
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Title: Member
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